XTX Topco Ltd Makes New Investment in KLA Co. (NASDAQ:KLAC)

XTX Topco Ltd purchased a new position in shares of KLA Co. (NASDAQ:KLAC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,548 shares of the semiconductor company’s stock, valued at approximately $1,416,000. KLA comprises approximately 0.3% of XTX Topco Ltd’s investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds have also recently added to or reduced their stakes in KLAC. Blair William & Co. IL lifted its stake in KLA by 1.9% during the first quarter. Blair William & Co. IL now owns 22,566 shares of the semiconductor company’s stock worth $8,261,000 after purchasing an additional 413 shares during the last quarter. Sei Investments Co. lifted its stake in shares of KLA by 34.9% in the 1st quarter. Sei Investments Co. now owns 80,289 shares of the semiconductor company’s stock valued at $29,382,000 after acquiring an additional 20,773 shares during the last quarter. Prudential PLC lifted its stake in shares of KLA by 183.1% in the 1st quarter. Prudential PLC now owns 4,374 shares of the semiconductor company’s stock valued at $1,601,000 after acquiring an additional 2,829 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of KLA by 32.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 924 shares of the semiconductor company’s stock valued at $338,000 after acquiring an additional 229 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in shares of KLA by 4.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 50,684 shares of the semiconductor company’s stock valued at $18,553,000 after acquiring an additional 2,151 shares during the last quarter. Institutional investors own 85.49% of the company’s stock.

Analyst Ratings Changes

KLAC has been the subject of a number of recent research reports. StockNews.com initiated coverage on KLA in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Stifel Nicolaus boosted their target price on KLA from $450.00 to $535.00 and gave the company a “buy” rating in a research note on Friday, July 28th. TD Cowen boosted their price target on KLA from $410.00 to $535.00 and gave the company a “market perform” rating in a report on Friday, July 28th. Barclays boosted their price target on KLA from $400.00 to $425.00 and gave the company an “underweight” rating in a report on Friday, July 28th. Finally, Susquehanna boosted their price target on KLA from $490.00 to $560.00 and gave the company a “positive” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $455.50.

KLA Stock Up 0.1 %

KLAC stock opened at $497.73 on Friday. KLA Co. has a fifty-two week low of $250.20 and a fifty-two week high of $520.19. The business’s 50 day moving average price is $485.62 and its two-hundred day moving average price is $434.27. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.47 and a current ratio of 2.24. The company has a market capitalization of $68.05 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.46 and a beta of 1.35.

KLA (NASDAQ:KLAC) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $4.82 by $0.58. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.26 billion. KLA had a return on equity of 138.06% and a net margin of 32.27%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.81 EPS. As a group, analysts forecast that KLA Co. will post 22.11 earnings per share for the current fiscal year.

KLA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a $1.30 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $5.20 annualized dividend and a dividend yield of 1.04%. KLA’s payout ratio is currently 21.59%.

KLA declared that its board has initiated a stock repurchase plan on Tuesday, September 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Virendra A. Kirloskar sold 2,621 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $474.55, for a total value of $1,243,795.55. Following the sale, the chief accounting officer now owns 3,699 shares in the company, valued at approximately $1,755,360.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Brian Lorig sold 66 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $475.30, for a total value of $31,369.80. Following the transaction, the executive vice president now directly owns 23,231 shares of the company’s stock, valued at approximately $11,041,694.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Virendra A. Kirloskar sold 2,621 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $474.55, for a total value of $1,243,795.55. Following the completion of the transaction, the chief accounting officer now directly owns 3,699 shares in the company, valued at $1,755,360.45. The disclosure for this sale can be found here. Insiders have sold 43,986 shares of company stock worth $22,071,950 in the last 90 days. Insiders own 0.15% of the company’s stock.

KLA Profile

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB, Display and Component Inspection.